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Current Attempt in Progress Presented below are selected ledger accounts of Swifty Corporation as of December 31, 2020. Cash Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends declared (2020) Cash dividends paid (2020) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2019 Retained earnings, December 31, 2019 Effective tax rate 20% $42,000 84,000 67,200 453,600 176,400 16,800 12,600 33,600 25,200 75,600 Your answer is incorrect. Compute net income for 2020. Net income $ 73920 e Textbook and Media SWIFTY CORPORATION Income Statement For the Year Ended December 31, 2017 Income From Continuing Operations Before Income Tax $ $ 129000 Income Tax Income From Continuing Operations C Discontinued Operations, Net of Tax Net Income /(Loss) $ $ Income Tax